Litecoin Rises above $55 as It Begins Its Bullish Ascent

Key Highlights

Litecoin recovers above $60                                                              The altcoin asset has ended its decline

Litecoin (LTC) Current Statistics

The current price: $63.53
Market Capitalization: $5,336,284,488
Trading Volume: $227,394,997
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis September 13, 2024

Litecoin (LTC) has recovered above its low of $49.90 as it begins its bullish ascent. The cryptocurrency should have reversed and moved upward. However, the bulls halted the decline above the $55 support level and initiated a range-bound advance. Since the August 5 price drop, the altcoin has traded above the $55 support and below the moving average lines or the resistance at $68.

On the downside, the price indicator suggests a possible reversal above the $60 support. Today, the cryptocurrency has recovered and resumed its upward trend. The bulls have been repelled in their three attempts to retest the $68 resistance.

If the initial obstacles are passed, Litecoin will rally to its prior high of $76. The altcoin is now worth $63.

Litecoin (LTC) Technical Indicators Reading

Litecoin will fall if the price bars continue above the moving average lines. The negative trend has ended as the moving average lines remain bearishly crossed. Litecoin is constantly moving in the Doji candlestick pattern.

What Is the Next Move for Litecoin

Litecoin bounces above the $55 support as it begins its bullish ascent. The moving average lines and resistance at $68 have slowed the upward trend. The cryptocurrency price is consolidating above the $60 support. When the altcoin rebounds above the present support level, it will resume its bullish trend. The crypto signal is range-bound because it is below the moving average lines.

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